Snyder Capital Management L P lessened its position in shares of Power Integrations Inc (NASDAQ:POWI) by 6.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 493,732 shares of the semiconductor company’s stock after selling 36,812 shares during the quarter. Power Integrations accounts for approximately 1.8% of Snyder Capital Management L P’s portfolio, making the stock its 20th biggest holding. Snyder Capital Management L P’s holdings in Power Integrations were worth $36,314,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Impax Asset Management LTD increased its position in Power Integrations by 20.7% during the 3rd quarter. Impax Asset Management LTD now owns 839,787 shares of the semiconductor company’s stock valued at $61,472,000 after purchasing an additional 144,088 shares during the period. Eagle Asset Management Inc. increased its position in Power Integrations by 30.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 263,100 shares of the semiconductor company’s stock valued at $19,324,000 after purchasing an additional 61,686 shares during the period. Schwab Charles Investment Management Inc. increased its position in Power Integrations by 6.1% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 166,367 shares of the semiconductor company’s stock valued at $12,179,000 after purchasing an additional 9,513 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in Power Integrations during the 3rd quarter valued at approximately $3,660,000. Finally, First Trust Advisors LP increased its position in Power Integrations by 32.7% during the 3rd quarter. First Trust Advisors LP now owns 56,393 shares of the semiconductor company’s stock valued at $4,128,000 after purchasing an additional 13,888 shares during the period. 95.53% of the stock is owned by institutional investors and hedge funds.
In other news, VP Ben Sutherland sold 738 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $66.51, for a total transaction of $49,084.38. Following the completion of the sale, the vice president now owns 44,986 shares of the company’s stock, valued at approximately $2,992,018.86. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Balu Balakrishnan sold 9,488 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $77.36, for a total transaction of $733,991.68. Following the sale, the insider now directly owns 262,977 shares of the company’s stock, valued at approximately $20,343,900.72. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 62,235 shares of company stock valued at $4,234,629. Insiders own 4.30% of the company’s stock.
Power Integrations (NASDAQ:POWI) last announced its quarterly earnings data on Thursday, February 1st. The semiconductor company reported $0.74 EPS for the quarter, topping the consensus estimate of $0.72 by $0.02. The company had revenue of $108.20 million during the quarter, compared to the consensus estimate of $110.50 million. Power Integrations had a net margin of 6.39% and a return on equity of 12.70%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.67 EPS. analysts forecast that Power Integrations Inc will post 2 earnings per share for the current fiscal year.
Power Integrations announced that its board has initiated a stock repurchase plan on Thursday, February 1st that allows the company to repurchase $30.00 million in shares. This repurchase authorization allows the semiconductor company to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Wednesday, February 28th will be given a dividend of $0.16 per share. This is an increase from Power Integrations’s previous quarterly dividend of $0.14. The ex-dividend date is Tuesday, February 27th. This represents a $0.64 annualized dividend and a dividend yield of 0.95%. Power Integrations’s dividend payout ratio (DPR) is 71.11%.
A number of analysts have weighed in on the stock. BidaskClub raised shares of Power Integrations from a “strong sell” rating to a “sell” rating in a research report on Thursday. Susquehanna Bancshares initiated coverage on shares of Power Integrations in a research report on Wednesday, December 13th. They set a “neutral” rating and a $80.00 target price for the company. They noted that the move was a valuation call. Sidoti downgraded shares of Power Integrations from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research downgraded shares of Power Integrations from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $81.40.
About Power Integrations
Power Integrations, Inc designs, develops and markets analog and mixed-signal integrated circuits (ICs), and other electronic components and circuitry used in high-voltage power conversion. The Company’s products are used in power converters that convert electricity from a high-voltage source to the type of power required for downstream use.
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